In 2022, one-quarter of the 57,000 artists who earned $10,000 or more in royalties from Spotify were self-distributed through the likes of DistroKid, TuneCore and CD Baby. If streaming is going to provide a living for many musicians, the economics need to work for the independent musicians that make up a large portion of the working class. Given that Spotify estimates other streaming sources account for 75% of an artist’s revenue, those artists probably earn around $400,000 a year in streaming royalties. Those artists earned over 80% of their streams from tracks that are five years old or older. In 2022, there were nearly 3,000 “catalog-heavy” artists that earned over $100,000 on Spotify. They’re also likely signed to record labels and receive only a fraction of those royalties. So they’re not superstars, but they’re far from hobbyists. In 2022, they earned an average of $224,000 from Spotify and averaged 1.5 million monthly listeners in 2022. There are 27,000 established artists defined as being in Spotify’s top 50,000 artists for three straight years but outside of the top 500. Spotify Unveiled a Bold New Redesign at Stream On 2023: Here Are the Highlights But as Spotify, and streaming in general, has grown in popularity, the number of artists making a sustainable amount - however that may be defined - is slowly increasing. (It didn’t specify exactly how much they earned, however.) Today, thanks to Loud & Clear, we can see 1 million creators are probably not making a living from their art. At the time, Spotify counted 22,000 artists as “top-tier” earners. That goal goes back to a statement by CEO Daniel Ek at its 2017 Investor Day. “I think it’s very important for ecosystems to have an understanding of the shape and size of how results are going for different participants so that people can understand where they are, where they stand and how the ecosystem is evolving,” says Charlie Hellman, Spotify vp/global head of music product.Īnd how well is the ecosystem evolving? Spotify wants to give “a million creators the opportunity” to making a living from their art - which could include both musicians and podcasters. It’s one thing to make $100,000 in annual royalties but another thing to know how many other artists are also making at least $100,000. But Loud & Clear will tell an artist how they stack up to others. Any artist knows how much they earned on a streaming platform.
Loud & Clear is helpful because it puts artist royalties in context. The third Loud & Clear report was released March 8 to coincide with Stream On, Spotify’s livestreamed media event where a parade of executives introduced new product features and discussed the future of the world’s largest music subscription service. One such small step is Spotify’s Loud & Clear, an annual report that provides some transparency into the amounts of royalties the company pays each year. Daniel Ek on Spotify's Next Step: It's a Chance for Artists to ‘Build Connection’
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